Fred, 19 Years of Age and Single, Is Claimed as a Dependent

Multiple Choice

Fred, 19 years of age and single, is claimed as a dependent on his parents' return.He has decided not to go to college.The following information is derived from his tax return for 2012: $\begin{array}{lr}\text { Taxable interest and dividends } & \$ 3,600 \\\text { Salary from part-time job } & 2,500 \\\text { Itemized deductions } & 1,270\end{array}$ Which of the following is false?

A) Fred's taxable income is $3,300.
B) Fred will not itemize his deductions for the year.
C) $1,700 of the interest and dividends will be taxed at Fred's parents' marginal tax rate if it is higher than Fred's rate.
D) Fred's standard deduction is $2,800.